Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Evoqua, Welbilt, and MoneyGram and Encourages Investors to Contact the Firm

Bragar Eagel & SquireDecember 29, 2018

NEW YORK, Dec. 28, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Evoqua Water Technologies Corp., Welbilt, Inc., and MoneyGram International, Inc. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Evoqua Water Technologies Corp. (NYSE: AQUA)

Class Period: November 6, 2017 - October 30, 2018

Lead Plaintiff Deadline: January 7, 2019

The class action complaint alleges that throughout the Class Period defendants made materially false and misleading statements, and failed to disclose to investors that: (i) Evoqua failed to successfully integrate its prior acquisitions; (ii) Evoqua was experiencing supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project; and (iii) as a result of the foregoing, Evoqua’s public statements were materially false and misleading at all relevant times. The complaint further alleges that investors purchased Evoqua’s common stock at artificially inflated prices during the Class Period and suffered investment losses as a result of the defendants’ conduct.

The complaint alleges that throughout the class period Welbilt made materially false and/or misleading statements and/or failed to disclose that: (i) the company lacked effective internal control over financial reporting; (ii) the company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the foregoing, defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

The complaint alleges that throughout the class period defendants made materially false and misleading statements, and failed to disclose to investors that: (i) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (ii) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; and (iii) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program.